Riverside Drive along the Brisbane River will be closed and turned into parkland over a period of 20 years, according to the plan to be explained to developers at lunchtime on Thursday.

The council said community consultation would be part of the next phase of the plan.

A second park will be built at Brereton Street in the off-the-river section of South Brisbane, while tall commercial buildings and residential apartments will crowd the section along Montague Road.

Montague Road is to be re-designed to a "South Bank" style feel, similar to Grey Street.

The Kurilpa-South Brisbane section of Brisbane is now included under Brisbane’s inner-city planning guidelines for the first time and this is reflected in the draft plan.

Hope Street - with the former, heritage-listed Coronation Hotel on the corner of Montague Road - will become a busy “high street” lined with shops and cafes.

The plan shows “above them” -  in the upper storeys - will be offices, hotels and apartments in a major new re-imagining of the area.

Hope Street will be extended across Montague Road towards the river to create new “crossroads” with links to the river to create a centrepiece of the northern section of Kurilpa Point.

The state government and the council are yet to explain the transition staging of how larger landowners including Parmalat and cement firms will leave the area.

Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney said the Queensland government had been working closely with existing landowners on the Kurilpa site to facilitate their staged relocation.

“I thank these landowners for their valuable and continued input into this renewal project, and for their key role in delivering this landmark precinct back to the community,” Mr Seeney said.

According to the plan, an “urban playground” will be built under the Merivale Bridge viaduct.

Along Montague Road, the heritage-listed Stewart and Lloyd’s factory wall, built in 1937 for the British-owned steel company, will be retained as an architectural landmark.

In a media statement issued with the report, Lord Mayor Graham Quirk said the northern end of the Kurilpa Point would become a commercial hub.

However he said the two new parks would “form the heart” of the draft Kurilpa Riverfront Renewal Master Plan.

The Kurilpa Master Plan guides Brisbane’s largest – 25 hectares of inner city land - renewal process in two decades.

Cr Quirk said there would be six weeks of community feedback before a final direction was announced in late 2014.

The plan was developed over the past seven months without community input.

Cr Quirk said Kurilpa would see a doubling of the amount of public space for the community and the draft plan included a new, one hectare riverfront park.

He said the plans to close and reclaim Riverside Drive added extra parkland.

“Kurilpa is council’s next step in building a vibrant riverside culture in Brisbane and follows on from successful redevelopments of industrial waterfront land at Newstead and Teneriffe,” he said.

“The draft plan has a 20-year horizon and includes investigating a new cultural facility, a high frequency public transport link, an urban playground under the Merivale Bridge viaduct, a new river-based transport terminal, a world-class park and a riverfront amphitheatre.”

The area will be home to 11,000 new residents.

Residents have already indicated the region needs a new primary school, with West End State School already near capacity.

Nearby high school, Brisbane State High, is undergoing an expansion.